Clare
Article: "Al-Sudani intends to visit Washington to lift the ban on banks prohibited from dealing in dollars"
Quote: "The head of the Iraqi Securities Commission, Faisal Al-Haimas, announced that three Iraqi banks were sanctioned by the US Treasury, and 25 banks were banned from dealing in dollars ."
Article: "The Central Bank announces an understanding with the US Treasury to reconsider sanctions and indicates 'illegal trade' "
The Prime Minister of the Kurdistan Regional Government of Iraq, Masrour Barzani, confirmed today, Sunday, communication with Prime Minister Muhammad Shiaa Al-Sudani and the Central Bank regarding a number of initiatives related to developing the banking system.
A statement from his office received by Al-Rabaa stated that, “The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, received this evening, Sunday, a joint delegation from the Board of Directors of the Bank of Baghdad and the Jordan Kuwait Bank, headed by the Chairman of the Board of Directors of the Bank of Baghdad, Majid Allawi Al-Saadi.”
The statement continued, “The meeting witnessed discussion of opportunities for cooperation in implementing joint business and projects with the Kurdistan Regional Government, in a way that strengthens the banking system and achieves economic development in Iraq and the region.”
Barzani highlighted “the reforms implemented by the Kurdistan Regional Government in the field of the banking system and the digitization of services provided and electronic payment,” stressing “the continuation of work on the (My Bank Account) project.”
He pointed out that he “communicated with the Prime Minister of the Federal Prime Minister and the Governor of the Central Bank regarding a number of initiatives related to developing the banking system, in coordination with the Central Bank of Iraq and according to his instructions.”
MarkZ
[via PDK]
I think things are in a mad dash to the finish line… We have an impending visit from Sudani here in the Us ... We have Sudani on Friday mentioning the rate of $1.32…which is very specific... Comment: The $1.32 rate is actually .76 cents US for each dinar…. Al Sudani promised the Iraqi people the dinar would be stronger than the dollar. . 76 cents is NOT stronger. MarkZ: They may be floating the rates of $1.32 and .76 cents to get people ready for a change. I still think it will be more in the $3 or $4 range…but I could be wrong. IMO $1.32 and .76 cents rates would still be fantastic..
It's been exceptionally quiet on the RV front overnight... Some have anticipation for this weekend...I hope they are right.
Comment: There is currently a bond crisis brewing. MarkZ: Yes there is…and years ago one of the key players in the RV told us to keep our eyes on the bond market and when it finally gasps its last breath…that is when we go... It is certainly troubled enough to gasp its last breath.
The Prime Minister expresses Iraq's desire to occupy its position in the international arena
Prime Minister Muhammad Shiaa Al-Sudani received, today, Monday, the Director General of the International Atomic Energy Agency, Mr. Rafael Mariano Grossi.
Al-Sudani confirmed in a statement received by Earth News that “Iraq was one of the first countries that sought to join the agency, abide by its treaties, and worked to establish nuclear reactors for peaceful purposes. Because of his conviction that nuclear energy must be a source of prosperity and not the development of lethal weapons
He pointed out that “at the end of last year, Iraq submitted to the Agency the requirements for its accession to the Nuclear Safety Agreement, and the Joint Agreement on the Safe Management of Spent Fuel and the Safe Management of Radioactive Waste, and it is looking forward to entering again into The field of peaceful applications of nuclear energy.
The Prime Minister expressed “Iraq’s desire to occupy its natural position in the international arena, and to engage in peaceful activity in the field of atomic energy. He also looks forward to assisting the Agency in developing programs and projects related to development in the field of nuclear applications for peaceful purposes.”
For his part, Grossi extended “an invitation to Mr. Sudanese to attend the Nuclear Energy Summit, which will be held in Brussels this March, expressing his appreciation for Iraq’s cooperation with the agency,” stressing that it is “one of the leading countries working with the agency, and he also declared his commitment to working with Iraq in its program and projects.” Peaceful, which includes energy, soil desalination, disease treatment, and other peaceful fields, indicating his aspiration for the Iraqi delegation to visit the agency’s headquarters in the coming weeks;
“To work on developing a road map to develop Iraq’s work, build infrastructure, and obtain nuclear technology in peaceful fields.” link
FREEDOM FIGHTHER
ERBIL, Kurdistan Region - "Ali Mohsen al-Alaq, Governor of the Central Bank of Iraq (CBI), said on Thursday that the US has agreed to review recent sanctions on Iraqi banks, adding that in the future, similar punitive measures will be taken in consultation with Baghdad."
Do you see what is happening?
Iraq is beginning to assume their own Sovereignty going forward. These US sanctions have kept Iraq from moving forward with their economic reforms on the International level, and now, we are witnessing final reviews of Iraq's sanctioned.
Once these are released, Iraq will be able to move forward with many of the rest of their economic reforms to connect with other countries on the International stage in trade and development.
The ability for Iraq to move freely within their own banking system will give Iraq currency ranges to work from in determining exchange rates between other countries.
The ability to trade in Iraqi Dinars instead of the dollar will give them purchasing power and control going forward.
© Goldilocks
https://www.rudaw.net/english/middleeast/iraq/15032024
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